Private Trust Co. NA Sells 168 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Private Trust Co. NA decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,312 shares of the industrial products company’s stock after selling 168 shares during the period. Private Trust Co. NA’s holdings in Illinois Tool Works were worth $868,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ITW. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works in the second quarter worth about $30,000. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the 3rd quarter valued at $32,000. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at $30,000. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the third quarter worth $35,000. Finally, Meeder Asset Management Inc. raised its position in shares of Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after buying an additional 115 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $276.51 on Wednesday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $277.94. The stock has a market cap of $81.65 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 4.25 and a beta of 1.10. The stock’s 50 day simple moving average is $263.06 and its two-hundred day simple moving average is $250.21. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Illinois Tool Works’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $2.55 EPS. As a group, analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Truist Financial raised their price target on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Robert W. Baird lifted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $257.30.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.